Japan's economic situation, in spite of the policy of zero interest rate and monetary easing have been adopted in the 1990s, is extremely severe and it is very likely that the economy has entered the deflationary spiral. And then an economist insists that it is necessary to adopt measures that would achieve further quantitative easing and the minus interest rate. Probably Silvio Gesell was the first economist that gave it a theoretical explanation about the zero interest rate policy, it is called as the prescription of stamped money. But J.M.Keynes argued in his General Theory that the policy was unrealizable, because Gesell was un-aware that money derived its importance from having a greater liquidity premium and he didn't recognize the notion of liquidity preference,despite his idea was very sound. Eventually Gesell's proposal wasn't realized as Keynes's foresight. Nevertheless J.M.Keynes didn't show the definition of liquidity preference in the General Theory, in particular in connection with demand of money. As a result, money demand and liquidity preference have been used in the almost same meaning in Keynesian orthodox works. This paper will make a distinction between money demand and liquidity preference, and will show a liquidity preference of four economic actors in order to analyze Japan's economy. Finally I argue that it is necessary to nationalize the major finance companies to get over the deflationary spiral of Japan's economy.